MagneGas Applied Technology Solutions, Inc. (NASDAQ:MNGA) has been range bound between the range of $0.138 and $0.138 during the whole day. The stock finished Friday at $0.19. The -18.19% downtrend forced its market value to reach at $31.97M. The price went up as high as $0.138 before retreating. Trading activity significantly improved as the volume at ready counter increased to 69,284,835 shares versus 10,151,150 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 12,107,125 shares. The stock is now 46.15% above against its bear-market low of $0.13 on September 18, 2018. It has retreated -2742.11% since it’s 52-week high of $5.4 reached in January. Now the market price is down -95.93% on the year and down -23.06% YTD.
MNGA’s 50 day simple moving average (SMA 50) price is $0.27 and its 200-day simple moving average (SMA 200) price is $0.37. The company’s stock currently has a total float of 137.55M shares. Its weekly volatility is hovering around 12.65% and felt 12.67% volatility in price over a month. On the upside, the share price will test short term resistance at around $0.21. On a downside, the stock is likely to find some support, which begins at $0.15. The failure to get near-term support could push it to $0.12.
Separately, it has been reported that multiple insider activity took place at MagneGas Applied Technology Solutions, Inc. (MNGA). Director Santilli Carla sold 108,334 shares for $306,865 in transaction occurred on 2018/01/12. After making this transaction, the Director owns a direct stake of 33,584 shares, worth $58,304, as per the last closing price. On 2017/12/15 Ingargiola Luisa, Director at MNGA, purchased 50,000 shares at an average price of $0.29 per share. The new stake is valued at $24,565.
Director, Huntington Christopher had invested in 108,334 shares for $109,017 through a trade on 2017/12/15. Following this activity, the insider holds 31,417 shares worth $20,713 as of recent close. Wall Street’s most bullish MagneGas Applied Technology Solutions, Inc. (NASDAQ:MNGA) analysts are predicting the share price to blow past $1.5 per share during the next 12 months. The current median share price forecast by them is $1.02, suggesting that the stock could increase 436.84% in that time frame. The average price target of $1.02 calls for a nearly 436.84% increase in the stock price.
It had seen a new analyst call from Rodman & Renshaw, which initiated the stock at Buy on April 13. Analysts at Northland Capital, started covering the stock on April 30 with a Outperform rating. Analysts at Northland Securities, made their first call about the stock on October 01, recommending it is Outperform.
Also, it is trading at rather inexpensive levels at just over 0.45x price/book and 4.15x price/sales. MNGA’s ROE is -149%, which is also considerably worse than the industry’s ROE of 10.69%. It’s also very liquid in the near term, with a current ratio of 2. The stock has a debt/capital of 0.05.
Shares of MagneGas Applied Technology Solutions, Inc. (MNGA) have dropped -55.8% since the company’s Mar-19 earnings report. Over the past 6 fiscal quarters, MagneGas Applied Technology Solutions, Inc. (NASDAQ:MNGA) has topped consensus earnings estimates in 1 quarters (8%), missed earnings in 3 quarters (25%), whereas at 2 occasion EPS met analyst expectations. MNGA last reported earnings on November 14, 2018 when it released Sep-18 results that exceeded expectations. The company raked in -$0.1 per share, -99.7% change on the same period last year. That was better than consensus for -$0.15. Revenue for the recent quarter stood at $2.6 million, up 157% on last year and below the $3.4 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $2.97 million to $2.97 million, which should be compared with $0 generated last year. EPS is seen in a range of -$0.02 to -$0.02, against the 0 reported a year ago.